Corporate Finance Law in the UK and EU

Dan Prentice and Arad Reisberg

A combined practical and theoretical comparison of UK and EU corporate finance law giving unique perspectives and a forward looking approach

Addresses key issues arising from the financial crisis, such as the scope for innovation in legal markets, as well as anticipating issues likely to be of critical importance in the next few years, including regulatory reforms and the impact of higher interest rates on capital markets strategies

Covers issues relating to equity financing, debt financing and European law and policy

Corporate Finance Law in the UK and EU

Dan Prentice and Arad Reisberg

Description

Combining perspectives from practice, legal theory and doctrinal analysis, this book presents a comprehensive examination of the questions facing the current understanding and future application of corporate finance law, such as the optimal adaptation of regulation in highly dynamic settings and the scope for innovation in legal markets in light of the current debt crisis.

The book considers areas of corporate finance that are likely to be of key importance in the next few years including regulatory reforms, which are of present concern. It also addresses timely and important questions such as the impact of higher interest rates on capital markets strategies and how directors should balance the demands for disclosure and transparency with the cost of compliance.

Bringing together contributions from over 20 international leading academic and practitioner experts in this area, this book provides a comparative perspective of equity financing, debt financing, European law and policy, and practical research on how to improve and solve current problems related to corporate finance.

Corporate Finance Law in the UK and EU

Dan Prentice and Arad Reisberg

Table of Contents

Part I: Equity financing and capital markets finance 1: The prohibition against financial assistance constructing a rational response, John Lowry 2: The decline of legal capital: an exploration of the consequences of board solvency based capital reductions, David Kershaw 3: Schemes of arrangement, Ceri Bryant 4: Insider dealing after the market abuse directive, Jesper Lau Hansen 5: Short sales regulation in seasoned equity offerings: what are the issues?, Emilios Avgouleas 6: Initial public offers - the supply and demand side perspectives in the legal framework, Iris H-Y Chiu 7: The future role of credit rating agencies in contemporary financial markers - a theoretical perspective, Arad ReisbergPart II: Debt financing and taxation 8: Contractual aspects of debt financing, Robert Stevens 9: Security, Marcus Smith QC 10: Set-off, netting and alternatives to security, Ian Annetts and Ed Murray 11: Policy issues and reform in debt finance: the reform of the English law of secured transactions in personal property, Andrew McKnight 12: The practitioner's perspective: the Financial Collateral Directive in England, Look Chan Ho 13: The assymetrical treatment of debt and equity finance under UK tax law, John VellaPart III: European law and policy 14: The EU Financial Services Action Plan and its impact on corporate finance, Harry McVea 15: The impact of increased corporate mobility on corporate lawmaking in the EU and on corporate finance issues, William W. Bratton, Joseph A. McCahery and Erik P.M. Vermeulen 16: Is Volkswagan the new Centros? Free movement of capital's impact on company law, Wolf-Georg Ringe 17: Equivalence-based regulation and EU prospectus law: the shadow regime, Pierre Schammo 18: Legal capital and the EU-treaties, Heribert Hirte and Alexander Schall

Corporate Finance Law in the UK and EU

Dan Prentice and Arad Reisberg

Author Information

Dan Prentice, Visiting Professor, University College London, and Arad Reisberg, Reader, University College London

Dan Prentice is a visiting professor at University College London and practices at Erskine Chambers. He is Emeritus Professor of Corporate Law at the University of Oxford and he is a member of the Law Society's Committees on Company Law and Insolvency Law.

Arad Reisberg is a Reader in Corporate and Financial Law at University College London. His research interests are in the field of corporate law, financial law, corporate finance and regulation of financial markets.

Contributors:

John Lowry, University College London David Kershaw, London School of Economics Ceri Bryant, Erskine Chambers Jesper Lau Hansen, University of Copenhagen Emilios Avgouleas, University of Manchester Iris Chiu, University College London Arad Reisberg, University College London Rob Stevens, University College London Marcus Smith, Fountain Court Chambers Ian Annetts, Allen & Overy LLP Ed Murray, Allen & Overy LLP Andrew McKnight, Queen Mary, University of London and Salans LLP Look Chan Ho, Freshfields Bruckhaus Deringer LLP John Vella, University of Oxford Harry McVea, University of Bristol William W. Bratton, Georgetown University Joseph A. McCahery, Tilburg University Erik P.M. Vermeulen, Tilburg University Wolf-Georg Ringe, University of Oxford Pierre Schammo, University of Manchester Heribert Hirte, University of Hamburg Alexander Schall, University of Hamburg

Corporate Finance Law in the UK and EU

Dan Prentice and Arad Reisberg

Reviews and Awards

"Despite the very technical nature of its topics, the contributors to this book have successfully managed to strike the right balance between, the level of details used in introducing their subjects on the one hand, and the sophistication and intellectual nature of their arguments on the other hand." - Abdul Karim Aldohm, Banking & Finance Law Review

"...this is a text that serves as a more than worthy addition to the literature and will set the benchmarks for future entrants to this field." - Paul J. Omar, International Company and Commercial Law Review